Flywire Co. (NASDAQ:FLYW) Given Average Rating of “Moderate Buy” by Analysts

Shares of Flywire Co. (NASDAQ:FLYW) have received an average rating of “Moderate Buy” from the sixteen brokerages that are covering the stock, Marketbeat.com reports. Two analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $34.27.

Several equities analysts have issued reports on the company. Citigroup cut their price objective on Flywire from $37.00 to $36.00 and set a “buy” rating for the company in a research report on Thursday, April 4th. William Blair restated an “outperform” rating on shares of Flywire in a research report on Wednesday, February 28th. Royal Bank of Canada upped their target price on shares of Flywire from $36.00 to $41.00 and gave the stock an “outperform” rating in a research report on Wednesday, February 28th. Oppenheimer initiated coverage on shares of Flywire in a report on Tuesday, January 23rd. They issued an “outperform” rating and a $25.00 price target for the company. Finally, Deutsche Bank Aktiengesellschaft assumed coverage on shares of Flywire in a research report on Tuesday, February 6th. They issued a “buy” rating and a $27.00 price objective for the company.

Flywire Stock Performance

FLYW opened at $22.31 on Thursday. Flywire has a twelve month low of $18.65 and a twelve month high of $35.80. The firm has a market cap of $2.74 billion, a price-to-earnings ratio of -247.86, a PEG ratio of 9.12 and a beta of 1.02. The firm’s 50-day simple moving average is $24.26 and its 200-day simple moving average is $24.45.

Flywire (NASDAQ:FLYW) last issued its quarterly earnings data on Tuesday, February 27th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.08) by $0.09. Flywire had a negative net margin of 2.13% and a negative return on equity of 1.35%. The firm had revenue of $100.55 million for the quarter, compared to analysts’ expectations of $88.52 million. During the same period in the prior year, the firm earned ($0.01) earnings per share. The company’s quarterly revenue was up 37.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Flywire will post 0.05 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Michael G. Ellis sold 3,500 shares of Flywire stock in a transaction that occurred on Tuesday, January 16th. The shares were sold at an average price of $20.31, for a total transaction of $71,085.00. Following the transaction, the chief financial officer now owns 337,318 shares of the company’s stock, valued at approximately $6,850,928.58. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Flywire news, CFO Michael G. Ellis sold 3,500 shares of the business’s stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $20.31, for a total value of $71,085.00. Following the completion of the transaction, the chief financial officer now directly owns 337,318 shares of the company’s stock, valued at $6,850,928.58. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael Massaro sold 13,043 shares of the firm’s stock in a transaction dated Wednesday, April 3rd. The stock was sold at an average price of $24.07, for a total value of $313,945.01. Following the sale, the chief executive officer now directly owns 1,655,673 shares in the company, valued at approximately $39,852,049.11. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 145,300 shares of company stock worth $3,814,667. Insiders own 5.00% of the company’s stock.

Institutional Investors Weigh In On Flywire

Large investors have recently made changes to their positions in the stock. PNC Financial Services Group Inc. increased its holdings in Flywire by 5.4% during the 4th quarter. PNC Financial Services Group Inc. now owns 28,840 shares of the company’s stock worth $668,000 after purchasing an additional 1,482 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Flywire by 2.3% during the fourth quarter. Vanguard Group Inc. now owns 10,761,286 shares of the company’s stock worth $249,124,000 after buying an additional 243,523 shares during the period. American International Group Inc. grew its holdings in shares of Flywire by 10.2% during the fourth quarter. American International Group Inc. now owns 52,854 shares of the company’s stock worth $1,224,000 after buying an additional 4,882 shares in the last quarter. Virtu Financial LLC acquired a new stake in Flywire in the 4th quarter valued at approximately $384,000. Finally, Eventide Asset Management LLC raised its position in Flywire by 3.2% in the 4th quarter. Eventide Asset Management LLC now owns 4,203,264 shares of the company’s stock valued at $97,306,000 after buying an additional 131,996 shares during the last quarter. Institutional investors own 95.90% of the company’s stock.

About Flywire

Flywire Corporation, together with its subsidiaries, operates as a payments enablement and software company in the United States and internationally. Its payment platform and network, and vertical-specific software help clients to get paid and help their customers to pay. The company's platform facilitates payment flows across multiple currencies, payment types, and payment options, as well as provides direct connections to alternative payment methods, such as Alipay, Boleto, PayPal/Venmo, and Trustly.